Concrete Mixer Trucks Market Size, Share, Industry Analysis, Trends, Growth, 2032

Concrete Mixer Trucks Industry Prospective:

The global concrete mixer trucks market size was worth around USD 3,588.90 million in 2023 and is predicted to grow to around USD 5,605.00 million by 2032 with a compound annual growth rate (CAGR) of roughly 5.20% between 2024 and 2032.

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Concrete Mixer Trucks Market: Overview

A concrete mixture truck is a heavy-duty machine or a vehicle with applications in the construction industry. It is used for the safe transportation of concrete mixture from the production facility to the unit requiring the final application of the substance. Concrete mixer trucks are essential for the smooth functioning of the construction industry since not only do the trucks ensure raw material transportation, but they also prevent injuries or accidents that may be caused due to the use of improper mode or securing concrete mixture. Such trucks have 5 primary components including engine, chassis, mixer drum, control system, and water supply technology. Like other vehicles, most concrete mixer trucks use diesel engines to obtain essential power. The second-most integral part of a mixer truck is the mixer drum equipped with a sharp blade-like structure that assists in uniform concrete mixing. Concrete can only be created when specific quantities of cement and water are combined. Any error in the ratio of water to cement can compromise the structural integrity of the final project. Hence water supply systems in concrete mixer trucks continuously supply water to the concrete substances during the transportation. The forecast period holds several growth opportunities for the concrete mixer trucks market players

Key Insights:

• As per the analysis shared by our research analyst, the global concrete mixer trucks market is estimated to grow annually at a CAGR of around 5.20% over the forecast period (2024-2032)
• In terms of revenue, the global concrete mixer trucks market size was valued at around USD 3,588.90 million in 2023 and is projected to reach USD 5,605.00 million, by 2032.
• The concrete mixer truck market is projected to grow at a significant rate due to the rising construction of smart cities across the globe
• Based on the application, the ready-mix concrete delivery segment is growing at a high rate and will continue to dominate the global market as per industry projection
• Based on the end-user industry, the residential construction segment is anticipated to command the largest market share
• Based on region, Europe is projected to dominate the global market during the forecast period

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Concrete Mixer Trucks Market: Growth Drivers

Rising construction of smart cities across the globe could deliver an exceptional market growth rate

The global concrete mixer trucks market is projected to witness high growth due to the increasing construction of smart cities worldwide. The rapidly growing urbanization rate globally has encouraged regional governing bodies to focus on developing organized residential spaces for the people. Unplanned or unorganized city development not only impacts the overall quality of life for citizens, they also disrupts the ecological functioning of the area. For instance, reports suggest that the leading impact of unplanned city development contributes to global warming. Moreover, it also results in excessive collection of garbage that cannot be controlled. Some of the other negative impacts of unplanned city construction include unnecessary vehicular traffic and a sharp increase in the burden on city resources meant for the citizens.

These factors have led to an increase in demand for planned and smart cities. These areas are known to optimize overall regional function. They also promote economic growth and promise a better quality of living. In May 2024, reports emerged highlighting the increasing momentum that Europe’s largest smart city project has gained in recent times. The Marine Tower in Greece will be the country’s first skyscraper. It will be spread across 6,200 acres thus acting as the first-of-its-kind building in the entire Europe. In March 2024, official reports indicated that the Indian government is expected to invest in the construction of 4 more smart cities by 2025 under the National Industrial Corridor Development Program. Moreover, the government is also expected to invest around INR 25,000-30,000 crore in each 10 to 11 smart city project.

Growing investment in the construction of new commercial projects may generate demand for mixer trucks

Commercial construction projects are on the rise driven by the growing focus of regional governments on developing commercial sites such as hospitality centers, office buildings, and entertainment facilities. The global concrete mixer trucks market can benefit from the surge in commercial construction initiatives since these facilities are critical for the overall economic growth of a country. For instance, in May 2024, the Dubai International Financial Centre (DIFC) broke ground for the construction of an Immersive Tower by DIFC. The tower was built with an investment of Dh 1.1 billion.

Concrete Mixer Trucks Market: Restraints

High expense of mixer trucks may limit the industry’s growth trend

The global industry for concrete mixer trucks faces growth limitations due to the high cost of the vehicles. The minimum cost of a standard version is around USD 100,000. The prices go further up with the change in overall vehicular features. For instance, concrete pump trucks may cost more than USD 200,000. In addition to this, repairing broken concrete mixer trucks can be challenging, especially in areas with a limited supply of skillful human resources or a lack of repair facilities.

Concrete Mixer Trucks Market: Opportunities

Novel concrete mixer trucks may generate higher growth opportunities during the projection period

The global concrete mixer trucks market is expected to generate high growth opportunities during the projection period. The industry players can expect positive momentum due to the launch and introduction of novel trucks with advanced features in the commercial segment. For instance, companies are experimenting with vehicle weight by developing lighter vehicles without impacting the final performance. In addition to this, the integration of advanced driving systems including collision avoidance technology, integrated cameras, global positioning systems (GPS) tracking, and automatic cleaning are some of the latest developments in concrete mixer truck technology. The market is expected to flourish with the growing demand for environmentally-friendly solutions. Electric concrete mixer trucks have the potential to reshape the ways in which the industry for concrete mixer trucks functions. In April 2024, Kilsaran, a leading player in the construction industry of Ireland, launched two electric concrete trucks that reduce noise pollution and have zero emissions. The Volvo FM trucks are the first-of-its-kind in the UK and Ireland market. Moreover, the regional governments are emphasizing using zero-emission electric vehicles across industries. The rise in government support will help the mixer truck manufacturers.

Surging construction of new international trade corridors will generate more demand for mixer trucks

In the last 5 years, the number of international relationships has significantly evolved leading to a greater number of projects aiming at constructing new international trade corridors. The global concrete mixer trucks market players must tap into this segment since it is expected to deliver exponential growth opportunities. For instance, China has undertaken the massive Belt and Road initiative stretching across the globe and connecting multiple countries.

Concrete Mixer Trucks Market: Challenges

Challenges in raw material procurement may impact the growth trajectory

The global concrete mixer trucks industry is projected to be challenged by the difficulties faced by truck manufacturers in producing essential raw materials such as steel and cement. The changing world order and international partnerships have led to uncertainties over the consistent supply of essential basic materials required for manufacturing and operating concrete mixer trucks.

Concrete Mixer Trucks Market: Segmentation

The global concrete mixer trucks market is segmented based on application, product type, end-user industry, and region.

Based on the application, the global market segments are ready-mix concrete delivery and on-site mixing. The highest growth was observed in the ready-mix concrete delivery segment. The mixer trucks are mainly used for transporting mixed concrete to the final location for ultimate application. On-site mixing is difficult with these trucks since efficient concrete can only be made under the right conditions and specific ingredient quantities. As per market research, more than 3.9 billion tons of cement is used every year globally.

Based on product type, the global concrete mixer truck industry is divided into rear-discharge concrete mixer trucks, front-discharge concrete mixer trucks, and others.

Based on the end-user industry, the global market segments are infrastructure construction, commercial construction, residential construction, and others. The highest revenue-generating segment in 2023 was residential construction. The rising demand for comfortable living spaces across the globe and growing development in remote areas are fueling the segmental growth trend. During the forecast period, the global real estate market is expected to grow at a CAGR of more than 5%.

Concrete Mixer Trucks Market: Report Scope

Concrete Mixer Trucks Market: Regional Analysis

Europe to lead the market growth trend during the projection period

The global concrete mixer trucks market will be led by Europe during the forecast period. Germany, Switzerland, Denmark, the UK, and other countries are expected to contribute to the region’s dominance against the other regions. These nations are home to some of the most prominent players producing highly efficient concrete mixer trucks and delivering exceptional performance in the international market. The electric concrete mixer trucks segment may generate the highest revenue since the region is focusing heavily on environmental preservation. It has shown accelerated adoption of solutions that reduce the negative impact on the environment. In February 2023, the Swedish producer of mixer trucks Volvo delivered its first electric version of heavy concrete mixer trucks to CEMEX. The machine can deliver a full day’s work with a single charge. In June 2023, Aggregate Industries launched the first electric concrete mixer in London. Asia-Pacific is projected to emerge as the second-largest market driven by Japan and China. The former is a leading producer of concrete mixer trucks in bulk quantities. Japanese concrete mixer trucks are gaining attention from international buyers.

Concrete Mixer Trucks Market: Competitive Analysis

The global concrete mixer trucks market is led by players like:

• Zoomlion Heavy Industry
• MAN Truck & Bus
• Caterpillar
• Terex Corporation
• Navistar International (International Trucks)
• SANY Group
• Volvo Construction Equipment
• Daimler AG (Mercedes-Benz)
• Liebherr Group
• Scania AB
• Schwing Stetter
• CIFA
• McNeilus (part of Oshkosh Corporation)
• XCMG Group
• Iveco.

The global concrete mixer trucks market is segmented as follows:

By Application

• Ready-Mix Concrete Delivery
• On-Site Mixing

By Product Type

• Rear Discharge Concrete Mixer Trucks
• Front Discharge Concrete Mixer Trucks

By End-User Industry

• Infrastructure Construction
• Commercial Construction
• Residential Construction

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa